U.S.: Rich Getting Richer?

Nov 14, 2010 By Sri

Is the gap between the rich and poor getting bigger around the world?

In the United States, the world's largest national economy, the unemployment rate remains stuck at 10 per cent. But while many people are struggling to find work, the high-income earners have increased their share of the country's wealth.

A report from Washington DC, on how the rich are still getting richer, and the poor are falling further behind them.

21 comments

Comments

Matthew14 January 21, 2011 - 5:16am

I can see some people don't think well about rich people. No, I'm not a rich person so I'm not defending them, I'm just trying to tell you the truth. Answer this question: "How does someone become rich?" The answer, rich people become rich mostly by filling a need or a powerful want. How did Bill Gates become so rich? He made Windows which helped everyone's lives! How did the CEO of NetFlix become rich? He filled in a powerful want for instant movies at a low cost! How could a poor person become rich? Well first, if the child of a poor person really wanted to be successful in life, he could study hard. He has a practically free public school to go to! In fact, most rich or successful people started out poor! Look at Andrew Carnegie or Abraham Lincoln.

Jacki January 21, 2011 - 11:17am

A lot of rich and famous people do not deserve the money they are making (such as movie stars, baseball players whom we are paying 12 million dollars a year to have a losing season, corrupt politicians, etc.). It's true that some successful people have started out poor, but it's extremely hard to rise to the top with no resources, if you're not a genius. Public schools in America have incredibly low standards nowadays, and they are only free until 12th grade. Colleges are not affordable to much of the working poor (try paying $40,000 a year on a family income of $12,000), so a higher education is out of the question for most. My point: don't blame those in poverty for being that way.

Matthew14 April 15, 2011 - 3:03am

Why would a movie star or a baseball player not deserve the money they are getting. They aren't hired by the government! They are hired by private people. If the coaches or directors want to pay them well, that is their decision. Some of the most successful people in history have started out poor, with nothing! The Irish came to the US with nothing, and yet they were able to make a decent living.

Matthew14 January 21, 2011 - 12:55pm

I'm not blaming poor people at all! I was just trying to point out the most people BECOME poor when they just waste their money. Yes, America's schools ranked lowest in international math tests, but highest in self-esteem tests!

Matthew14 April 15, 2011 - 2:56am

There actually is no vicious cycle. The parents can just send their kids to Public School. Sure it isn't great, but it does work. Look at Chase D________. He's going to West Point!

Armaan January 18, 2011 - 7:01pm

We need a robin hood!

Matthew14 January 19, 2011 - 6:43am

No we don't! Whatever people say about how great Robin Hood is, it's still stealing!

Jacki January 18, 2011 - 8:41am

The rich can definitely afford to be taxed more, if it would mean giving poor people a break. There are unemployed people out there who can can't afford to pay their taxes and support their families at the same time. They are faced with a paradox: if they refuse to pay taxes, they could go to prison and their families would starve; and if they pay taxes, they have no money left to feed their children anyway.

Matthew14 January 20, 2011 - 2:58pm

Jacki, poor people don't pay taxes. So they technically wouldn't go to prison.

Jacki January 20, 2011 - 6:49pm

Matthew, from your comments it would seem that you are a millionaire; you are very supportive of them! I would say that your generalization of poor people is very unfair.

Matthew14 January 21, 2011 - 5:18am

Why?

Jacki January 21, 2011 - 11:08am

You assume that poor people are negligent about their educations, and could make something of themselves if they weren't lazy. That is untrue. And I asked you, what is your definition of "poor"? Do you mean the working poor or people living under bridges? According to an article on this website, the standard of poverty in the U.S. is less than $22,000 a year in a family of four.

Matthew14 January 21, 2011 - 12:39pm

I guess the people living under the bridge, but I don't see the difference.

Jacki January 24, 2011 - 10:51am

There is a big difference!! People living under bridges generally do not have a source of income, and if you don't have a source of income you do not have to pay taxes. The working poor have an income, but they struggle to pay taxes and buy food and heat. Anyway, enough of this friendly discussion! I was just annoyed when you said bad things about poor people.

Matthew14 April 15, 2011 - 2:57am

I didn't mean to say anything nasty about the poor, I was merely trying to correct what someone else said. Do you know why the gap is getting bigger? Because the Middle Class is shrinking! That's because they are becoming richer; thus the gap grows.

Jacki January 20, 2011 - 5:19pm

What's your definition of "poor"?

Matthew14 January 18, 2011 - 8:25am

Okay, here is the taxing problem. Obama wants to set a low tax on the poor, but he wants to tax the rich heavily! Does that seem fair?! Just because Bill Gates has saved up so much money, and just because he knows how to manage his money, and just because he is famous and earns a huge income, doesn't mean he should pay more money than Mr. Smith, who doesn't know how to manage money and wastes it, and thus becomes poor!

Jacki January 20, 2011 - 5:26pm

Famous people have too much money for their own good. It's not right that rich people ride around in private jets while homeless children freeze to death. Also, a lot of people living in poverty don't get poor by wasting money. How could they waste money if they didn't have any in the first place?

Matthew14 April 15, 2011 - 3:00am

The rich people risked all their money and possibly their friend's money (and friendship) to start a business. Because they were successful, they should reap the rewards. In America, if you take a risk, you will be rewarded.

Arjun November 18, 2010 - 6:40pm

I was hoping Obama could shorten the gap a bit with his proposed method of taxing. Will this affect the US economy in a negative or positive way, or have no effect?

Matthew14 January 8, 2011 - 10:24am

Actually, this will have no effect. Unless the lower class decides to riot and actually attack the middle and upper class people.

Youngzine

U.S.: Rich Getting Richer?

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